In a recent survey conducted by Wilmington Trust1, 47% of business owners over the age of 65 do not have a specific transition plan. We have found that the sheer complexity of transition planning is often a barrier to creating any plan at all. One of the most effective places to start is by creating a path for welcoming the next generation into the family enterprise.
During this webinar, Barb Dartt and David Karofsky will explore best practices in preparing and educating the next generation to help ensure the long-term sustainability of the organization. Specifically, the program will address:
Identifying what it means to be an effective owner
Overall ownership development goals for the next gen including how and when to start
How to communicate effectively while recognizing and celebrating differences among generations
Establishing criteria for next-gen family members to join the enterprise
How an onboarding rotation program can provide a better understanding of the business
Understanding how decisions are made in the family business
Passing the baton: who needs to let go and who needs to take hold
This free, one-hour program includes time for Q&A. A recording of the webinar will be available for all registrants.
1The Power of Planning, Wilmington Trust, 2017
About the Presenters
Barbara Dartt is a senior consultant for The Family Business Consulting Group, assisting businesses with succession strategies, long-term planning, management transitions and family governance implementation, as well as other opportunities and challenges unique to family-owned businesses.
David Karofsky is a consultant with The Family Business Consulting Group with over 25 years of experience coaching and consulting to individuals, families and companies to develop better cross-team communication and build alignment among the senior management team.
Free Webinar Recordings
You can also access hundreds of in-depth articles written by our team that address the unique challenges faced by family enterprises from communication and conflict to succession and continuity. Visit our Article Library.
Effective Ownership and Leadership Development
The Family Business Consulting Group works with families to plan for ownership changes and to create programs for educating potential owners on their rights and responsibilities as shareholders in the company. Current and future shareholders benefit from a stronger understanding of the ownership structure, and often gain a feeling of empowerment that contributes to a greater enjoyment and involvement in their participation as a shareholder.
To learn more about how experienced facilitation can impact your next family meeting, please contact us at firstname.lastname@example.org or 773-604-5005.
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